Home Depot said Thursday that chief operating officer Ted Decker will step into the role of CEO.
The retailer’s current CEO, Craig Menear, will continue to serve as chair of the board. The leadership change will be effective as of March 1, the company said in a news release.
Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm.
“His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot,” he said in a news release. “I have tremendous confidence that he will guide our company to new heights.”
Home Depot’s shares closed Thursday at $356.43, down less than 1%. Shares are up about 30% over the past 12 months.
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